The price of oil remained relatively stable on Friday, showing little change from previous levels. However, it is on course for a second consecutive week of losses. One of the main factors contributing to this is the easing of supply concerns in the Middle East, a major oil-producing region. Conflict in the area had previously raised fears of disruption to oil supplies, driving prices up. Additionally, there is uncertainty surrounding the demand for oil in China, the world’s leading importer of crude oil. This has caused further hesitation and clouded the overall outlook for the oil market.
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